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August 27, 2007

Alcoa To Sell Two Soft-Alloy Extrusion Plants; Close One in Tifton, Ga

PITTSBURGH--Alcoa (NYSE:AA) today announced it has agreed to sell its two remaining U.S. soft-alloy extrusion facilities in Warren, Ohio and Plant City, Florida to Golden Aluminum (www.goldenaluminum.com). Terms of the agreement were not disclosed.

The plants in Warren and Plant City extrude aluminum into products used in the building and construction and commercial transportation markets. The plants employ approximately 130 and 200 people, respectively. The transaction is expected to be completed by the end of September.

Alcoa also announced that it will close its Tifton, Georgia soft-alloy extrusion facility by the end of October, 2007. The company was not able to secure a suitable buyer for the plant which employs approximately 200 people. Impacted salaried employees will be offered severance and work assistance programs. Severance arrangements for bargaining unit employees will be subject to discussion with union officials.

Earlier this year Alcoa contributed nearly all of its soft alloy extrusion business into a joint venture with Sapa Group. That joint venture was formed in June, 2007.

Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa® wheels, fastening systems, precision and investment castings, structures and building systems. The company has 116,000 employees in 44 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com.